Seylan teams up with Mintpay | Sunday Observer

Seylan teams up with Mintpay

25 April, 2021
From left: Manoj Wijewardane, Manager, Digital Commerce, Seylan Bank, Chaminda Senewiratne, Head of Digital Banking Channels, Seylan Bank, Urmila Chandrasekeram, CEO, Mintpay and Kukaraj Tharmasegaram, CTO, - Mintpay.
From left: Manoj Wijewardane, Manager, Digital Commerce, Seylan Bank, Chaminda Senewiratne, Head of Digital Banking Channels, Seylan Bank, Urmila Chandrasekeram, CEO, Mintpay and Kukaraj Tharmasegaram, CTO, - Mintpay.

March 1, marked the beginning of a revolutionary partnership between Seylan Bank and Mintpay, a platform that is the first to offer customers the option to Buy Now, Pay Later for any product or service offered by merchants powered by Mintpay’s AI-driven payment platform.

While the market is used to instalment based payments through many financial service providers, where they’re expected to either go to the merchant location and ask that their transaction be converted to an Instalment based plan or call their financial service provider to request for the transaction to be converted to an instalment plan. Mintypay is a bank agnostic and will eventually also be a merchant agnostic payment platform that will manage this process automatically.

This partnership opens up a host of opportunities for online shoppers in Sri Lanka. through the proprietary technology developed by Algoredge (Pvt) Ltd, we can now provide merchants and consumers across the island with a novel online shopping experience.

Customers will be able to use the Mintpay payment platform with any of their merchant partners to split their shopping cost into 3 interest-free payments over a payback period of two months.

The solution typically allows the customer to check out at any online shop that is registered with Mintpay and use their credentials to log in and make the payment which automatically converts their payment to an instalment plan.

Mintpay Chief Technology Officer Kukaraj Tharmasegaram said “The start-up” was inspired by the thought of hundreds of eager customers not being able to purchase goods due to the unavailability of credit at a time of need, hence not being able to use their debit cards.

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